Kernel, a restaking infrastructure provider for BNB, announced today that it has secured funding from Binance Labs, a move targetted towards redefining restaking on BNB chain.
This move marks a notable milestone for Kernel and the BNB ecosystem. The support will help Kernel lead the restaking journey on BNB Chain and beyond and turn BNB’s economic security into programmable trust, empowering dApps, middleware, and the entire crypto ecosystem.
Following its design, Kernel integrates native and liquid staking tokens across BNB, BTC, and other yield-bearing assets to improve their utility and capital efficiency. Furthermore, the platform enables developers to bootstrap projects more efficiently by creating a shared economic security ecosystem. This way, users are also provided with new opportunities to maximize the utility of their assets.
Kernel Secures $10 Million From Total Funding Rounds
Following this move, Kernel revealed that it has raised $10M total funds across rounds with supports from various investors, including: SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Cypher Capital, Draper Dragon, ArkStream Capital, DACM, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, DWF Labs.
While Kernel has embarked on a mission to bring restaking to BNB Chain, unlocking decentralized, scalable trust; Kernel has revealed that it will first launch on BNB Chain using BNB Liquid Staking Tokens (LSTs) and restaked BNB as economic security to support DeFi innovation on BNB Chain.
Prior to the funding event, Kernel has so far achieved a Total Value Locked (TVL) of over $1 billion, more than 10 Layer-2 integrations for better scalability, over 120 DeFi integrations, and more than 300,000 unique addresses.
Amitej G., Co-Founder of Kernel expressed delights on the fundings secured from Binance Labs saying;
“By leveraging restaking solutions, Kernel is driving greater utility and scalability for BNB-based assets while laying the groundwork for a more resilient and developer-friendly restaking and DeFi landscape…We are thrilled to have the support of Binance Labs to bring the vision of restaking to life across Web3. Their backing has been instrumental in helping Kernel build the foundation for a more secure, scalable, and utility-rich restaking and DeFi ecosystem on BNB Chain.”